Recent Updates
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Mutual-Fund Suit Vs Citigroup Dismissed
Business Law 09/27/2007[##_1L|1062093828.jpg|width="120" height="88" alt=""|_##]A federal judge in New York on Wednesday dismissed a lawsuit against Citigroup Inc. that alleged it didn't disclose to mutual-fund customers millions of dollars in savings allegedly pocketed by...
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Vonage Gets Another Black Eye
Business Law 09/26/2007[##_1L|1394250783.jpg|width="120" height="138" alt=""|_##]For Vonage, things have gone from bad to worse. On Sept. 25, a jury found that Vonage infringed on Sprint Nextel's patents. It asked Vonage to pay $69.5 million in damages and a 5% royalty rat...
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Fed's Bernanke predicts further mortgage turmoil
Business Law 09/20/2007More delinquencies and foreclosures can be expected in the subprime, adjustable-rate mortgage market as borrowers face interest-rate resets, Federal Reserve Chairman Ben Bernanke said Thursday. In testimony to the House Financial Services Committee, ...
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Investors await Fed decision on rate cut
Business Law 09/18/2007Federal Reserve policymakers opened a long-awaited meeting on interest rates Tuesday amid expectations of a move to revive a sputtering economy, but with some arguing against a return to easy-money conditions blamed for the problems.The Federal Open ...
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FCC Adopts Three-year “Dual Carriage” Requirement
Business Law 09/17/2007The FCC last night, after a daylong struggle to reach consensus, took several actions of significance to cable operators and programmers. First, the FCC adopted rules that it characterized as necessary to ensure that cable subscribers with anal...
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EU court rejects Akzo confidentiality complaint
Business Law 09/16/2007[##_1L|1072399082.jpg|width="130" height="132" alt=""|_##]The European Union's second highest court on Monday dismissed Akzo Nobel's complaint against the European Commission over seized documents the firm claimed were covered by lawyer-client confid...
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CNET says SEC ends stock investigation
Business Law 09/05/2007CNET Networks said Tuesday that the Securities and Exchange Commission ended an inquiry into the company's stock option grants. Regulators won't take any action against San Francisco-based CNET, which is a media company. CNET's founder Shelby Bonnie ...
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Law firm files investor lawsuit against Motorola
Business Law 09/02/2007Another law firm has filed an investor suit against Motorola Inc., claiming executives didn’t tell the market how bad things were last fall as sales began to slow. Schiffrin Barroway Topaz & Kessler LLP filed suit last Wednesday in U.S. District ...
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Roche wins U.S. motion in Ventana bid battle
Business Law 08/23/2007[##_1L|1109364129.jpg|width="120" height="93" alt=""|_##]A U.S. court has granted Roche Holding AG's motion for a preliminary injunction to prevent Ventana Medical Systems Inc. from applying an Arizona anti-takeover law to defend itself against Roche...
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TD Ameritrade, E-Trade hold merger talks
Business Law 08/22/2007Online brokerage giants TD Ameritrade Holding (AMTD) and E-Trade Financial (ETFC) have been holding talks for weeks about a possible merger, The Wall Street Journal reported Wednesday. The discussions currently are focused on making sure both compani...
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U.S. Fed pumps $3.5 bln into financial market
Business Law 08/20/2007[##_1L|1369514519.jpg|width="130" height="93" alt=""|_##]The U.S. Federal Reserve on Monday pumped 3.5 billion dollars into the financial system to help beat back a widening credit crisis. The injection was announced by the Federal Reserve Bank of Ne...
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US court OKs Dura sale of Atwood unit, equity plan
Business Law 08/17/2007Dura Automotive Systems Inc. has received U.S. Bankruptcy Court approval for the $160.2 million sale of its Atwood Mobile Products unit and an equity plan with Pacificor LLC to support its reorganization.Dura, which filed for bankruptcy in October 20...